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Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
what is cob duglus production function?
Contribution of Foreign Trade to Economic Development: Foreign trade contributes to economic development in a number of ways. • It provides flow of technology which al
use the concept of the income elasticity of demand to explain the difference necessities, luxuries and inferior goods
how can we bring in the marginal propensity to consume
the price elasticity for gizmos is known to be 1, if sellers of gizmos increase their
limitation of kaldor hicks in compensation test and welfare criteria
Question : (a) Using a simple example, diffrence between inter - industry trade and intra - industry trade? (b) Illustrate the reasons for the existence of external economie
The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases
Shor tage A condition under that the quantity demanded for a good or service exceeds the available supply for that good or service. Shortages usually cause a rise in price
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